lori: good afternoon. i am lori rothman. melissa: hello, everyone. i am melissa francis. we are at 13,945. pfizer pushing us ever closer to a new time high despite an

unexpectedly weak reading on consumer confidence. melissa: the new push to turn a tiny island off detroit into a free market utopia. i love this story. lori: let's go to pack your bags, folks. lou dobbs here with us. an agreement that lays down a path to citizenship for 11 million illegal immigrants in this country. let's head to the floor of the new york stock exchange. the dow pushing session highs right now. nicole: it certainly is. we are back touching them once again. the nasdaq composite has been one of the three industries that we have followed so closely and it has been in the red. it is down, not even two points. the s&p 500 also setting new highs here. going back to these levels that

we have not seen since 2007. let's begin with ford motors. it is down about 5.5%. he talked about europe. that is something that is still plaguing them. they did say that europe still remains a problem. the outlook in the near-term is troublesome. they did see that they had and and a deep to climb in prices. back to you. lori: we will see you in 15 minutes. melissa: oil topping $97 a barrel today. sandra smith is taking a closer look from the pits of the cme.

what is going on there? >> you have an east coast refinery closure. i stood here and told you that traders said that the oil market is going to continue to follow the stock market in the short term. here we have the dow closing in on 14,000. out of the housing market this morning, oil pushing above $97 a barrel. this would be a market closed for the oil market. gasoline prices have not risen. we are wondering how this will catch up with you at the pump, that may be on the way.

the other big story down there is gold. wall street saying that this ten-year raleigh has hit its peak. what do you think? sandra: they said that they believe gold prices will peak in 2013 because as the stock market rises, the economy improves. investors will now be looking for that safe haven investment like they used to. they are actually calling for an end to the 12 year rally in gold. we are off a little bit today. gold is down on the week. it is now down on the year. some bearish momentum continues in the gold market. overall, sentiment in the metal market is down right now. melissa: thank you so much, sandra smith. lori: let's talk more about the economy home prices. they are on the rise.

november home prices rose 5.5%. so, for the year, prices rose in 19 of the 20 cities. new york the only city to see a decrease. phoenix saw the fastest gain in prices with a 22.8% in the year. stick around for jeff falk later in the hour. see that i cannot wait for that. rodney wildwood is a principal at lockwood development. you are looking at and island that is near detroit and you want to buy it and create this utopia. what would the tax policy be like because that is what i care about? >> do not fax anything you want

to encourage. melissa: it sounds like a fantasy, but this is a real plan. it is a 983-acre island located off of detroit. it was purchased by detroit in 1879. the reason why you think that this could actually happen is because detroit, of course, is in dire financial strength. they are looking for anything to do to write in the books. what are the odds that you think you can get this done? >> well, considering all the interest and the media coverage in the past week and all the discussion, i think the odds are getting much better. i think it can happen. melissa: it would be like puerto rico. it's all private entity.

you would have your own currency. you have to renounce your citizenship, though. is that something that would have to be done here? >> no. actually, what i am proposing in this book which i have written is to be in additional citizenship for bell island. melissa: there would be a fee to do that. have you had a lot of interest so far? >> i have had some interest. i have had some people requesting. melissa: have you looked into financing or have you started negotiating with the city at all? >> no.

the city currently is considering having the state take it over and maintain it as a park, which it is right now. the numbers, i have run numbers and they seem to work well. what the property is worth without this new political structure would be far less. melissa: what is there right now. there is the detroit got club? what would you do with what is there? >> the island is a city park right now. the detroit yacht club is located on the island. the state has proposed recently to take over the operation of the park and then charge a modest fee for entering it. this idea that i am proposing is of course, a much better idea. melissa: if it works out, i am

going to go take a look. rodney, i hope that it works out for you. i think that there is a yacht club. lori: shakeup continues. ray lahood caught the last remaining republican in the president's cabinet is stepping down. he has stated that he will remain in his current role until a assessor is confirmed. he served as an advocate for president obama spending increases on highways, bridges and transport facilities. it continues. i will be curious to see who takes that spot. it will be tough with the challenges ahead. credit card users bracing for a new swipe fee. we will tell you why small

businesses may be the biggest loser on this one. melissa: lou dobbs coming up as president obama gets set to pitch his immigration plan. ♪

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build a dam, offering a paper mill or heat a hospital or launch a battleship or even take a shower without using one of their more than 40,000 products. july 1936. lori: no kidding. you helped us in on that one. charles: i know people out there are anxious. it is near a 52 week all-time high. i think it still has room to the upside. the margins are all going. trading at 810 pd. if you are looking for an industrial name that will be around for a long time, rate management, operating really well, this is a name you would want to look for. we were talking about dow theory other day. being a great precursor,

hopefully more bullish news to come for the stock market. does this fit into that strategy at all? charles: that whole thing, it has been challenged a little bit also over the years. of course, they kill themselves. lori: what is the name of the index? [talking over each other] melissa: it did predict the downturn. that was the canary in the coal mine. charles: i am looking at some of those stocks. i think the dow theory will always be applicable to some degree. i have to tell you, did you guys see the consumer confidence number? it was really, really bad. melissa: i always wonder about that number. consumer confidence and consumer behavior are really different.

[talking over each other] melissa: i am on a diet and you go to 31 flavors. just one of those things that does not go together. melissa: charles payne, thank you so much. lori: there is a lot of pent-up demand to buy houses. melissa: as we do every 15 minutes, let's check the markets. today is the 20th anniversary of the exchange trading fund. nicole: it is a really big deal. when you talk about 1993, this is when it started. it mimics what we see on the s&p 500. the s&p 500 is hitting highs that we not seen since 2007. new highs they are. this started back in 1993. it is the most traded equity security in the world.

also, they call them the spiders, the industry that now controls around $2 trillion in assets. let's say you only like a few stocks. not really sure how you want to do it. you want to buy the whole s&p 500. if you are bullish out there, these are the types of things that people go for. it certainly has gained popularity. melissa: we have breaking news. a federal judge has approved an agreement for pep to plead guilty to manslaughter and pay a record of $4 billion in criminal penalties. the drilling rig exploded. lori: we will continue to keep an eye on that. in the meantime, just as the senate reaches a compromise can't now comes president

obama's plan. lou dobbs joins us to discuss the immigration debate next. season ticket look at how the dollar is faring today. it is weaker across the board. we will be right back. ♪ twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.

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>> it is 21 minutes past the hour. egypt's army chief of staff is warning that the collapse of that state is possible. this after five days of political violence and rivals there. the curfew set in cairo and the other cities. texas governor rick perry is now proposing to get back excess tax money "to those who paid it". governor perry wants to give that money to citizens that it collects, but money that it does not spend. could a chicken wing shortage coincide with super bowl

weekend? according to the national chicken council, prices are up from last year. farmers raised fewer chickens as a result in 2012. those are your headlines. back now to lori and melissa. lori: say it ain't so. melissa: super bowl. chicken shortage. [talking over each other] lori: president obama expected to speak in vegas. he will respond to the bipartisan agreement that lays down a path to citizenship for the 11 illegal immigrants here in the u.s. >> this is a complicated issue. i think what we have now is unattainable. we have to begin to address it. the undocumented issue gets a lot of attention. we do not have a legal

immigration system that works for our country. we do not have enforcement mechanisms that work. no sunburn but he could be summoned for long if it does not have enforcement mechanisms. lou: he is a remarkably impressive senator. he is matured. he is grown. i have said this, i think he is the -- by the force of his intellect and that maturity that has been so accelerated in his short time in the senate. i think he is a remarkable leader. on this issue, he has taken a stand already today against reports and signals from the white house that they will not require border security for this bipartisan agreement to move ahead, which would be disastrous. the republican party could not agree to it.

i think many democrats could not agree to it. he is the one who stood up and said, mr. president, you have to be reasonable. you cannot riffle immigration if you cannot control immigration. you cannot control immigration if you do not control our ports and our visas. lori: and he rehabilitate the republicans reputation among hispanics, in particular? lou: that is a great question. i do not think that the answer is particularly available right now. bobby jindal saying the republican party has to stop being a party that looks stupid. president obama may be choosing that mantle for his party. if he tries to blow up this bipartisan group of eight, this gang of eight, as they are

called, that would be utterly ideological contempt for the process of compromise and moving ahead in good order. he would literally be snatching defeat from the jaws of victory. melissa: how does it play out from here? lou: i think, well, the president has to come to a census. if he goes on the air here in just about an hour and a half and insists on new conditions, rather than border security because, again, for the president benefit, if you cannot control immigration that you cannot reform it. you cannot control immigration without controlling our ports and our borders. by lying to the american people because that is the operative

word, they would be lying to the american people saying we have control of our borders. it is just nonsense. we do not have control of our borders. in the most recent report, demonstrated that the numbers are off by as much as 40% in terms of apprehension. people need, you know, the reason we are having this moment here in 2013 is because we did not have enough courageous senators and congressmen to stand up and say we are not going to game the system. we are going to pursue the national interest. we will do so honestly with the american people. we will valuate what is in the american interests and we will do the right thing. a rational affective issue. lori: let's do our promo. lou: you, under got it.

lori: we will hear from president later on this afternoon. who is really to blame for the new credit card swipe the? liz: dangerously high pollution levels taking their toll in china. the businessman has a fix for those that can afford it. that is coming up. ♪ [ male announcer ] how can power conmption in china,

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melissa: so we have breaking news right now. let's get to the floor of the new york stock exchange. there is an interruption it published trades, nicole? >> that's right. let's break it down a little bit. number one, i want to talk about investor confidence. when we see headlines there is some sort of trading issues or published trades or data feeds, what does that mean? should investors at home be nervous, john? >> it depends what the issue is. today's issue is quite similar to yesterday's issue. this is data issue. what does that mean? we continue it trade. some of the volume resumes we're trading are not getting published properly to the tape and taking a little bit of time for them to catch up. there is a little bit of a lag there. it doesn't affect pricing or what we do and what wall street does and how we do it. it affects the way the news and quotes are being disseminated to the tape. >> so we are getting news from the nyse spokesperson.

i will read this. the outage was caused by issues on two servers. you were on the ramp and got some of this. specific how many symbols and nyse, 175 symbols. this has been resolved through suz and on the amex, 241 symbols, af through lmz. the resolution is in progress. >> bigger picture of things, that is small microcosm of stocks we trade down here. clearly nothing was affected. if you look at the tape and charts, nothing was affected at all. these things happen. some happen in small period of time. sometime it takes longer to fix. >> sounds like he is pretty confident it will be fixed. back to you. melissa: nicole, thank you. lori: new era of transparency. they tell us everything, more than we need know sometimes. depending where you live it may cost you more to use your credit card as a result after settlement between the merchants and the industry. they are allowed to charge up to 4% of your entire

purchase. retail federation says allowing so-called swipe fees will cause irrepable harm to retailers especially smaller once. the general vice counsel, says the concept merchants will start charging credit card use is propaganda spread by the credit card industry. welcome. >> hi, there. lori: by propaganda you say retailers are rest leakly to charge swipe fees to their customers? >> i say virtually it will not happen. this is propaganda put out by the card industry as part of a settlement of the a big lawsuit. lori: i was going to say what do retailers come out of the settlement? they were really squeezed because they had to pay processing fees to the credit card companies. again so this settlement allows them to turn around to offset some of the fees crimping into their bottom line on to customers, who by the way have a lot of other choices how they will pay for their goods. debit cards are not included in the settlement and you

can pay for cash. >> that's right. what retailers wanted to come out of this lawsuit was cometics. right now the two big card companies, basically set monopoly swipe fees and they force those fees on to retailers and their customers and it's hidden. what we wanted was lower swipe fees so there were lower costs to us and lower prices for our customers. what instead is the card companies have offered that retailers should take the exorbitant fees that the card companies are charging and pass those on to our customers. we're not interested in doing that. lori: right. i understand. here's the problem, right? you have a tighter regulatory environment where banks have fewer avenues to generate revenue. this is big picture here. so they pass to the credit card companies which pass it along to retailers. now retailers are passing along to the customers. the real solution has to be a bigger issue solution in tighter regulation right now, do you agree with that? >> no.

the issues has to be competition the problem is retailers compete every day. you can go online and find incredible deals and bargains. if you shop for credit cards they all charge the same high swipe fee. we don't need regulation. we need genuine competition. >> amex is not a part of this settlement. amex has its own deal that seems to work out just fine because there are a lot of retailers, smaller ones in particular won't even accept an american express card. most of those customers know that and use other payment options. >> that's right. look, there are a lot of props with this credit card proposal. among them is that there are so many hurdles that as a practical matter it is unworkable. that is number one. number two, all it does is institutionalizes the high swipe fees that the card companies are charging now and says to retailers, you should double down with your customers on this fee. that is ridiculous. we're trying to lower prices

because that is how we compete. we have no interest in this surcharge approach. lori: look, mr. duncan, with the tougher economic challenges high unemployment out there, nobody is going to disagree inflation is a problem, you know, just at the food and energy levels. we're seeing prices go up. and it's disappointing nonetheless. these are the tiles. there is a lot of layers that need to be addressed. mallory duncan of the nrf. thank you very much. >> sure, happy to be here. melissa: pollution in the beijing area reaching dangerously high levels for the second day in a row and it is causing the chinese government to warn people they should stay indoors as much as possible. with visibility at 300 feet at multiple airports in eastern china were forced to cancel flights. capital system at its finest. one chinese entrepreneur taking advantage of china's smog conditions developed cans of fresh air for people to breathe in. according to a publish aring group in china, the cancel for about 80 cents each.

and they come in a variety of atmospheres like pristine tibet. post-industrial taiwan. lori: i think i go with the former rather than the latter. melissa: i guess. i don't know. wooib we'll have to sample that. check it out. you have to love capitalism thriving. lori: innovative. red hot blue-chips, we're looking at some of the big winners driving the dow closer to 14,000. melissa: clear signs of a recovery? home prices are have seen the best yearly gains since 2006. will that mean a building boom? impact on homebuilders stocks ahead. ♪ . [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground.

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>> i'm adam shapiro with your fox business brief. stocks are mostly positive as the dow and s&p 500 near their all-time highs. checking the dow industrials right now we're up roughly 7 points. a federal judge approved the deal bp reached with the justice department following the 2010 oil spill in the gulf of mexico. under terms of the agreement bp will plead guilty to manslaughter and other charges and pay a record $4 billion in criminal penalties for the company's role in that massive spill. bp agreed in november to plead guilty to two charges involving the deaths of 11

workers and for lying to congress. it looks like there is still a future for the twinkie. "the wall street journal" reports bankrupt hostess brand is nearing a deal to sell the iconic snack and other cakes to private equity firms apollo global management and td met trop police. the cost? $400 million. that is the latest from the fox business network, giving you the power to prosper.

melissa: so what financial areas will the new congress focus on? jeb hensarling is the new chairman of the house financial services committee and he has an ambitious agenda. fox business senior correspondent charlie gasparino has exclusive details. >> he took over for spencer baucus this year. so he is the new chairman. house financial services committee controlled by republicans because republicans control the house. there are three major areas they will look at. they will look at it through hearings. we should point out the house does humphrey-hawkins

testimony. gets that from bernanke. that will play into this number one, big-time. melissa: they renamed it. humphrey-hawkins is so much better. >> that i actually remember the humphrey-hawkins testimony. in any event three main areas of reform. this is the way they're going to go at it in this sort of, in this sequence. housing reform, ending too big to fail or at least keeping the pressure on various regulators to end too big to fail and the fed. let's go through each one. housing reform. i can tell you this. these are people spoken to hensarling. very worried about bailout of the federal housing administration. we bailed out freddie and bailed out fannie. federal housing administration is below its requirements. has been there four years. somehow how to shore up that capital or do something with the federal housing administration. the second thing is obviously they're going to talk about ending too big to fail. how do you do that? i think you will see the

treasury up there. they will do some hearings or some letters about how we can rein that in. the third spot, this is what i think is interesting, is the fed. and they're going to focus on, listen, if you know anything about hensarling, used to be a staffer for senator phil gramm, one of the great free market politicians in the country. that means that jeb hensarling is a free market ear. one of the things i think jeb hensarling is against the notion that the fed itself should be propping up this economy. there is an absence of sort of any sort of concerted effort on the fiscal side to get the economy moving. president obama talking about raising taxes, not doing anything more than the bland stimulus efforts. obviously they are not working. but you got the fed in there. the fed keeps interest rates at zero. by the way, ladies and gentlemen, that's why you see the market going to 14,000. it is interest rates and just about it. so those are the areas he is going to focus on.

as i said before, they don't call it humphrey-hawkins of the he gets two cracks at bernanke in a year. bernanke will spend the rest of the year in that position. then he is apparently been telling people or there has been stuff out there that he may leave. there is names out there. larry summers i hear as potential replacement. melissa: janet yellen. >> janet yellen. gentleman that runs, tiaa cref. melissa: janet yellen is main candidate. >> heard this guy from tiaa cref has a good shot. my buddy has a good nose. melissa: your buddy. >> a la jack lew and a lot of others. these names get swapped in and out, repeatedly. we should point out that it doesn't matter. they all come with the same sort of ball of tricks if president obama will appoint them they are people into expansionist fiscal policy and want interest rates at zero and the fed printing money.

they will have, i don't know about a foe but they will have a sort of, a burr in the saddle in jeb hensarling. melissa: yeah. >> one of the interesting things, spencer bachus, who i really like, spencer and i got to know him during the bailout and financial crisis i think he was, i think he had a personal relationship with bernanke. he liked bernanke. i think it will be different here. i think this will be a lot more, from what i'm understanding, at least signals that helps zarlink is giving, this will be much more adversarial between that committee and the fed chairman. melissa: charlie gasparino. thanks so much. lori: it is quarter of. as we do every 15 let's check the markets. back to nicole on the floor of the stock exchange. companies hitting 52-week highs off earnings reports. >> let's look at couple nails on the move. start off with some drug stocks, pfizer and eli lilly. pfizer a dow component up 3%. despite they lost the patent for lipitor they're working hard to push some of their

other drugs. they reported a better than expected fourth quarter for those results, rebounding seas in emerging markets is an area that helped. forecast is not to great for 2013. eli lilly another name on the move up 4% there. we're also watching valero, a name doing well with the margin they are seeing. so that is up about 11%, big move there. tupperware, fourth quarter profit fell. they did face charges but you can see here it is looking pretty good. the stock is up almost 5%. harley-davidson pinpointing the demand. which bikes do consumers really want? that is how they plan on tackling 2013. to really give consumers what they really want. back to you. lori: nicole, as you're reporting we're less than 50 points away from dow 14,000. glad you got your eye on it. melissa: there you go. all right, the new and improved office. microsoft overhauling its franchise software for the first time in three years but to what sort of reviews? first impressions straight ahead. lori: and after the office,

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lori: microsoft is giving its flagship office a face-lift. shibani joshi has all the details for us. >> it is not your old boring microsoft office anymore. microsoft ceo steve ballmer calling this, the next big

step in the company's transformation. it is a new release of the new office for consumers. quote, this is so much more than just another release of office. this is office reenvented as a consumer cloud service with all the full featured office applications people know and love together, with impressive new cloud and social than other cloud based offers like google, are luring away exercise. so what exactly is the new product from microsoft? it is a nice up grid upgrade existingofficecece programs and applications that you know and love. can connect 20 gigs of storage, skype. and, the stock not really moving today. this is the next step in the evolution. first it was windows 8.

for lack of a better. [audio difficulties. millions of other operatings system users out there. lori: thank you, shibani, so much. coming up next hour shibani will sit down with actress and microsoft office 365 spokeswoman, fet listy huffman of "desperate housewives" fame. >> that is very cool. melissa: case-shiller reporting home prices are on the way up, citing a 5.5%

increase in the to city index. jeff flock is in geneva, illinois, what markets are worth looking at and how homebuilders will take the news. jeff? >> i will give you the secret to success even in a tough market. first the good markets and the bad markets. look at winners in the case-shiller home price index first of all. it is the places that did the worst during the recession. places like phoenix, san francisco, detroit bouncing back even. and las vegas. those are the winners. what are the losers? well, ones we continue to talk about from the last month's report. new york continues to be the worst market. a loss, the only loss in the 20-city index. chicago also low on the list. chief and -- cleveland and boston the others. we're in the mill creek community. this is development outside chicago in the chicago market. i have the secret to it. you're building spec houses, craig. people aren't doing that

anymore. why are you doing that? >> we found tremendous response to it. the generally the public has to wait until their home is sold to buy now. once they do they need a to move right away. >> if you have something ready for them they're ready to go? >> we have literally something for everyone. we keep a large inventory. >> a tip for homebuilders. look at their stocks as you might guess based on case-shiller, all the homebuilder stocks are up 3, 4% in some cases. next hour we will have year-to-date on the homebuilder stocks. you are making big money if you bet on homebuilders, melissa. melissa: jeff flock, thanks so much. lori: where would you go if you were looking for the ultimate shopping spree, using data from visa and mastercard holders, and calculating average amounts from millions of transactions, sound technical, bundle.com has the list so you can shop like a rock star and drop thousands in one visit. number five is maxfield in l.a. where an average visit will set you back $2258.

melissa: nice. lori: in new york, could cost you about $2649 per visit. i never heard of these stores. there you go, in boston. thank you. would set you back a little more than $2800. melissa: not that i've been there. lori: of course not. second place on the list, almost 3,000 per visit giorgio armani. any guesses number one? oscar de la renta in new york where the average shopper spends over $3,000. melissa: who are these people? lori: i know. melissa: you? lori: i didn't know half the names of the stores. melissa: not me. lori: all i know about is here. store it in the oven. melissa: who are these people? please tweet and write us if you're shopping there. i just want to know. send me a picture what you bought. all right coming up tonight on "money", ron littlefield is the mayor of chattanooga, tennessee. he joins me to discuss some

of his genius incentives to entice people to move there to create jobs. that is 5:00 p.m. eastern on fox business. he has things like the geek move. it is very cool. yes i will leave you with this tidbit to entice people to come. the geek move is really cool. lori: look forward. melissa: it is genius. i think it is genius. lori: i will prep for that. i will stick around to join ashley. tracy has at day off. dow is approaching 14,000. we're at 13,946. we're looking at the overall housing and economic picture with s&p chairman. he is with us next hour. so stay with us. [ male announcer ] you are a business pro.

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lori: good afternoon, 2:00 on the east coast, i'm lori rothman. ashley: i'm ashley webster. 14,000 within reach. lori: look at that. ashley:down surging up 71 points today, trading at

13,953. intraday high is the best in five years. what does the market do from here? "morningstar" domestic fund manager of 2012, he knows what he is talking about, mark henneman is here. lori: also new hope for housing. home prices posting their biggest year-over-year spike in six years. s&p's david blitzer puts together the case-shiller numbers. he will tell us what housing says and how it is helping the overall economy. ashley: fantastic. microsoft revamping office to take on a growing threat from google apps. will it work? microsoft spokeswoman and actress felicity huffman will talk with shibani joshi this hour. don't want to miss that. lori: stocks near the highs of the session. the coming close to 14,000. >> it is exciting when people watch the dow move to 6500. they saw job cuts. they saw dividend cuts. they saw their stocks cut in half and their home values

diminish. here we are right back where we started back in 2007, not too far off from those levels. clearly we're not exactly back but we recouped a lot of those losses. that certainly is a good feeling for folks long this market. ira's, 401(k)s, the dow, 13,951. that is a gain of a half of a percent. s&p higher by half a percent. tech heavy nasdaq is down 2 points. weaker consumer sentiment and house prices pulling back. let's look at an all-american company, that is ford motor company. alan mulally joined on board back in 2006. obviously dedicated himself to a turnaround for the company. did not take a government bailout. they did it here in the united states in north america. did very well. they will try to use the same restructuring for europe because that is an area that plagued the company and they see weakness going forward. the stock is down 5 1/2% because of outlook in europe in particular.

back to you. lori: nicole, thank you. we'll see you in 15 minutes requires there still buying opportunities? let's bring in one of "morningstar"'s domestic fund manager of the year. he manages the growth fund with bill tlrels. "morningstar" gives the $2.8 billion fund a five-star rating that is pretty impressive. it beat the s&p 500 with 9.65% annualized gain over the past 10 years. mark, congratulatings. thanks for joining us. we're knocking on the door of the 14,000 on the dow. s&p, charlie brady, our senior editor saying 85% of the stocks in the s&p 500 are above their 200 day moving average. all of this is amazing but are we due for a pullback? >> well i would say that four weeks ago i thought maybe we would get 8 or 9% returns for the year. earnings are coming through a little better than we

would have expected and the economy might even be a little bit stronger. we think there is still room to go up from here. ashley: well, look the system, there is no doubt about it, is flooded with cheap money, liquidity all the way back to qe1 in march of 2009 but as an investor can you really buy on real fundamentals? is this a fed-driven stock rally? >> well, we don't think so. we look at individual companies that are still very attractively priced and frank i let individual is just now starting to put real money into the equity markets. ashley: you don't think the individual is too late to the party to jump on board and ride the rally? >> well i think over the long haul they're going to be in good shape if they invest here. we're expecting long term seven to 8% returns in the market and that is about the best thing you can get right now. ashley: right the other than taking a long-term look which clearly your fund does, what other strategies do you put in place to get such impressive returns? >> well, there is nothing more important than taking a long-term view.

we look at our companies and look what they can do every the next five and 10 years. and focus on those fundamentals. and then that makes all the near-term issues really less important. ashley: a up can of stock recommendations that you like. donaldson. i hadn't heard of this. they're a large off-road vehicles, is that right? what else do they do? >> whale two they do they provide air filtration to off-road vehicles. ashley: okay. >> also for natural gas generation, the gas turbines. ashley: why do you like them? >> well, they're in an interesting position. i think that with cheap natural gas prices we can expect a lot of gas turbines to be built for future electricity generation. that is certainly in their favor. they have also just built themselves a nice competitive advantage where they go into an off-road vehicle and have the first fit and all the follow-up replacement filters are sold by donaldson. ashley: all right. the other stock that you

like a much more familiar one especially to consumers is target. while they didn't have a great holiday season, did they? why do you like it? >> that is part of the point the stock has been a little bit flat because of a disappointing christmas. we think that is short-term issue that will be taken care of in future christmases. the thing we really like their opportunity in canada. they're about to expand globally for the first time and they're doing it in a very smart way. ashley: just to go back to the macro view, mark. you know, look, do you like the valuations? are prices, are they still good value, equities at this price as we continue to see the market move higher?. >> yeah the market as a whole, it is harder to say. we're still finding plenty of opportunities in individual stocks. a lot of the companies that we've liked for years. we've been able to add to some of them. also finding some interesting new names. you know the market as a whole, it's harder to say we really stay focused on about

100 or 125 stocks we know really well. ashley: very good. i guess that is the old warren buffett strategy, isn't it? mark henneman, thanks juror joining us and congratulations on your fund. appreciate it. >> thank you very much. ashley: buy what you know. lori: i will go out and make a ton of cash after that interview. ashley: spread it around. spread it around. lori: i always do. i'm not mizerly that way. ashley: no. lori: let's talk politics of after taking the country to the brink of a fiscal cliff there is increasing talk the next standoff between republicans and democrats could lead to a federal shut down. it happened twice before. last time in 1995. could it happen? rich edson. we have the fiscal cliff deal. the debt ceiling pushed back and the continuing resolution, right? >> this is because of the debt ceiling in relation to this calendar. the debt ceiling increase is approved in the senate next couple days. that pushes the debt ceiling to may 18th. the back end of number of

cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that could shut down the federal government. you're looking at debt ceiling all the way on may 18th. congressional aides saying treasury is telling them pause of extraordinary measures they can use, this pushes the debt ceiling day back to sometime this summer perhaps if this is a bill that clears congress and the senate is going to consider it the next couple of days and likely it does pass of the because the debt ceiling is pushed off and the next real fast deadline is march 27th, that government spending deadline, analysts say that increases the likelihood of a government shutdown. >> take off the worst-case scenario elements of this

what could be a worst-case scenario by removing the debt ceiling essentially. have just a good ol' fight on spending. and you know, with those kind of ground rules the markets can continue to recover and that would be best for everybody. >> now republican and democratic leaders are not threatening to shut down the government but there are still major differences between democrats and republicans how much money to spend and what to spend it on. look out, march 27th, the next deadline upcoming. no budget agreement. government shutdown. back to you. lori: see if it comes to that. rich, thank you. ashley: what would life be without a horrible deadline just looming over our heads. lori: one after the other. ashley: it is. lori: it would be a shame to lose the national parks. ashley: yes. happened before. remember them being shut down. lori: '95 under the clinton administration. but they worked it out. let's be optimistic. ashley: jcpenney shares surging after a major about-face of the struggling retailer. check out the stock, up 8%. we'll have that story next.

lori: digging into the new case-shiller numbers on home prices. s&p's david blitzer helped put together the report. he is our special guest ahead. he will characterize the health of the housing market and if it will improve from here. as we do each day at this time here is the look at the trade on oil. it is knocking on the door of $100 a barrel. still a little ways to go but up nonetheless. up 94 cents to $97.38 a barrel twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio.

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ashley: it's time to make money with the one and only charles payne. this hour he has stocks that have profits that could be a real steel. >> steel dynamics do you remember that name? lori: of course. >> from the presidential campaign. everybody talked about it. romney talked about it. the obama team said they got a lot of federal money too, don't forget about that.

they reported numbers and came in pretty good. it is still a little early. it is still a little tentative when it comes to the larger steel names. these guys, what i like about them if you look at all the names, nucor and u.s. steel, they're starting to distance themselves with respect to some sort of value proposition and the reason to buy them. better operating income as a portion of their tons of steel that they ship. strong cash flow margins. they have diversified pretty well in the last few years. they have gotten smart. they're doing rail production and iron ore --. lori: what happened to 2009? look at that black diamond ski slope, black diamond. >> take it even further back than that. this thing has been in trouble before. this is tough industry, oversupplied industry right now. there is pressure on the pricing i know that. >> you're right. ashley: but as the global economy picks up china, i.e., hopefully. >> and as america picks up. their big thing is of course

nonresidential construction. once that picks up, to your point the average selling price for steel and scrap metals are down but they're scrapping their way through it. i'm not saying buy this one yet but right now so many stocks are trading at 52-week highs. a lot of stocks at all-time highs. this one is not one of them. if you're trying it make a list of potential names this one probably should go on that list. watch it a little bit more. i may come on with more confidence down the road. okay, now let's pull the trigger, maybe a close above 16.50. lori: we can tell with your tempered report. we know you're not fully in. >> you can tell, huh? got to tell you, i was grappling today. the whole day i had a tough time grappling. you know what? we'll have to chase some stocks here. a lot of people don't like chasing but we'll have to. ashley: charles, thank you very much. >> see you later. lori: in an about-face, jcpenney reversed its no discount policy. it was introduced about a year or so ago. now they're offering discounts. that policy was introduced by chief executive ron johnson, of course a many former apple exec who ran

their retail operation. jcpenney sales and discounts had eaten into the companies profits. instead of boosting the bottom line, customers balked and sales fell 20%. the retailer will offer targeted discounts at certain times during the year. jcpenney has had a rough time under johnson's leadership. the stock has lost more than half its value. sales down $2.5 billion last year alone. but the market seems to like this bit of news with jcpenney shares surging up 8% or a $1.38. ashley: one thing to be a apple retailer because the product sells itself. jcpenney a whole different animal. we went through with the every day low price. we don't need great sales and discounts because all our clothing is at a discount. doesn't work. lori: jcpenney stuck between the characterization of type of retailer it is. is it like tj maxx or target or like a department store retailer? that is where, anchor store to a lot of malls. so really stuck in the

middle with you. ashley: they are. should be a great song. as we do every 15 minutes, let's check the markets now. nicole petallides on the floor of the nyse. nicole, you're looking at drug-makers? >> indeed i am looking at a couple of drugmakers. pfizer a dow come.is certainly one to watch on their numbers. the stock is up 85 cents at $27.59 that is a gain of over 3% and a top performer in the dow jones industrials. they moved to multiyear highs on their earnings report. they saw rebounding sales in emerging markets that is one area they did well. while lipitor, you remember they lost patents on that one. with intense generic competition and they're working hard to push some other drugs. their profit for the fourth quarter quadrupled from a year ago on the sale of their nutritional products business. so that is what we're looking at with pfizer. let's move on to eli lilly. another name that is also facing intense generic competition. this stock is up 4% today. the shares are hitting multiyear highs.

they beat on the top and bottom lines for eli lilly. they're talking about 13 drugs in late-stage trials, five of which they plan to submit for approval this year. so obviously that always bodes well for these companies, particularly when they can be big revenue generatetores. back to you. ashley: nicole, thanks very much. of course we'll be back in 15 minutes. lori: microsoft making a lot of news today remodeling its office suite taking on the mobile competition. will the strategy work though? office 365 spokeswoman, actress and "desperate housewives", felicity huffman goes one within one with shibani joshi next. ashley: you can see the dollar is down against all these currencies. these currencies enjoying an uptick including the euro back to almost 1.35. we'll be right back.

>> it is 20 one minutes past the hour. i'm heather nauert with your fox news minute. a federal judge approved bp's guilty plea deal reached with the justice department following the 2010 oil spill in the gulf of mexico. bp pleaded guilty in november to manslaughter charges and other charges and will pay a record $4 billion in criminal penalties for the company's role in that spill. 11 workers died when the

macondo well blew out, causing the worst offshore spill in u.s. history. transportation secretary ray lahood is announcing he will leave the obama administration. lahood who spent the past four years pushing for greater safety on the highways and in the air, will stay on until his replacement is chosen and confirmed. high pollution levels and thick smog is surrounding beijing today. authorities are warning children and older adults to stay indoors. the toxic air contains particles thick enough to penetrate lungs. it is forcing flight cancellations. relieve could come tomorrow, snow and rain are in the forecast. like we what we have here. those are the headlines. back to you, lori. lori: thank you, heather. oil unrest in the middle east stokes supply concerns. sandra smith is taking a closer look at from the pits at the cme. sandra. >> you have political risk. a big inventory report out tomorrow.

overall sentiment in the oil market, energy market very bullish. with minutes left to go in the pit trading session in the crude oil futures, we're looking at a close of above $97 a barrel for the first time since september 2012. so oil prices still up more than a buck right now. and could close above that $97 mark. we've got an inventory report out tomorrow but you also got a refinery closure along the east coast. hess refinery, closing one of its big refineries. that is aiding to the bullish sentiment in the market right now. as those oil prices go higher, sure enough turn to the wholesale gasoline prices. rbob gasoline which is trading just below on the open market but the retail price of gas, the one you pay at the pump, not taking long for the high oil prices to show up at the pump. triple areporting in the latest week, prices rose to a national average of $3.36 a gallon. so guys, we're nearly at 100

bucks a barrel and we're certainly starting to see those higher oil prices at the gas pump. not, welcome news to many drivers out there. but that is certainly is the nature of the situation right now. back to you. lori: summing it up for us. sandra, thank you. ashley: tracy byrnes screaming from here. sandra, thank you. microsoft giving its flagship office a reboot with style. hosting a major launch of it right here in new york city. shibani joshi joining us now with a special guest. shibani. >> thanks ashley. she is a desperate housewife. she is an actress ex-tread extraordinaire. she is blogger, a mom and wears different hats. she is teaming up with microsoft to help solve problems we can all relate to. felicity huffman joining me live in studio. thanks for being here. >> so happy to be here. >> you join awesome company of celebrity and moms teaming up with microsoft, jessica alba and gwen stefani. what made the tie-up right

for you. >> here is what is perfect for me. i'm a mom. a actress. i run a website. i am starting a web series. i'm, a wife. all these things. like many moms out there i got a lot going on. and, i bet you can relate to this. i have to work everywhere. i have to work in the carpool lane. i have to work picking up my daughter from ballet class. i've got an, tra twrep minutes while i'm -- extra 20 minutes while cooking. i have to work everywhere. i found i had a document on this computer that i really needed and something over here and e-mail here and there wasn't any cohesion or sort of accessibility. >> yeah. >> and it is really busy. you know moms have three-minute windows to get stuff done. and the reason i'm here i feel like microsoft came in on a white horse and rescued us with office 365. >> that is amazing because a lot of people out there can relate to many complexitis. the yours are maybe amped up

a little bit more. you're married to william macy and have a business husband. don't you have people to do all this stuff? don't you need technology to solve all this stuff for you? >> i'm not normally organized. because, i love it, office 365 breaks down the barriers with all your devices that have it on it. so i can be in the carpool lane, jot something down on my tablet. when i get home, i open my desktop is right where i left off. so everything is accessible. and you know what it is? it brings your office with you. so i can get a lot more done. ddenly all those balls that i have in the air, they kind of stay in the air. >> let's talk about technology and more broadly as a category, you wear a lot of different hats. you have children that are probably embracing technology as well in very different ways. how do you kind of use that to help you have a more productive life, have more enriching life, the little

free time that you do have? >> in terms of with my children or with myself? >> with your children and yourself. can help in many ways but also can be a distraction, don't you think? >> yes. it is always changing. we're trying to learn where to put the boundaries because it is a fantastic tool. it is kind of a, it's a treasure and yet at the same time it can really get in the way of family time and it can become an addiction as we all know. so my husband and i are trying to figure out what the boundaries are. when they can be on a device. when they can't. but, they're loving, i mean, they're loving a the are of the office 365. the power point presentation and all that sort of stuff. >> you moved on from "desperate housewives" where is what the is next chapter or next horizon for you? >> i don't know. i think i'm producing a little it about. we're doing web series. and my website, what the flika.com is taking up my time and energy. >> i like that.

felicity huffman, i like that the next horizon includes internet and web programing. that is something everyone says is taking off and having talent and celebrities like you is a big part of that. >> that's why i am here. it really helps me out. >> thanks for being with us. >> thanks. ashley: all right, shibani joshi thank you very much. great interview. lori: that was fantastic, believe me. ashley: to balance all things at the same time. lori: she is incredible felicity huffman. what a plate spinner. i need to take a lesson. thank you again, ladies. home prices are rising from last year but consumers are feeling less confident. what does it say about the overall economy and what kind of potential it has from here? s&p index chairman david blitzer is our guest next. ashley: first let's look at some of today's winners and losers. the dow is still knocking on the door of the 14,000 mark. there are lots of winners. we'll be right back.

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ashley: is half past the hour. taking a look at the dow 30 right now. we are up 65 points. let's head to the floor of the new york stock exchange where nicole petallides is standing by. nicole: we have watched the markets get closer and closer to 14,000. it has been an exciting time. how do you think you feel traders feel about the fact that we went from 6500 almost back to our all-time high. >> there is a fair amount of interpretation that we are already overextended,

overbought. we are sticking up that bullish sentiment in there. if you look at what is happening, we are making higher lows with each day. we have done that with ten sessions. when we pulled back, it is higher each time. i spoke to one guy before i came on the air and he sees no reason why we can't go back to the old high in 2007. nicole: there you have it. everyone was saying that we should probably take a breather here. at the same time, you still have that bullish sentiment here on wall street. back to you. tracy: thank you so much. we will be back in 15 minutes. tracy: look at the price of oil. $97.57. a gain of over one dollar. that is something. not great news at the gas pump. ashley: home prices are on the

rise. that is good news. november home prices up 5.5 purpose -- 5.5%. prices rose in 19 of the 20 cities on the list with new york the only city to see a decrease. phoenix saw the fastest thing prices with a 22.8% jump. jeff flock is in geneva, illinois, with more on the markets. jeff. jeff: it is a very bullish time, i think, in the home building market. this is geneva, illinois. this is a community that has been under construction for a long period of time. after taking a breather, they are booming again. i want to put those homebuilding stocks up.

companies like pulled the call 174%. the etf is up. it is a booming time for the stocks. >> we have had a really strong november, december and now, surprisingly, january. >> you are in a tough market. chicago and new york, those two metros are very difficult markets. >> we keep a large variety of inventory. we have about 15, 16 inventory homes at all-time. jeff: take me through this. this is called an inventory home. you are building this on spec. you are not worried, why?

our buyers are waiting to sell their homes to buy a new home. once that happens, they need a place to go right away. thirty days, 60 days or 90 days. jeff: they must see the boss on the scene here. everyone is cleaning up. there you go. positive, positive news in the homebuilding sector. ashley: it is all very positive. jeff flock in geneva, illinois. tracy: my next guest helps compile the index. housing has clearly recovered and it is contributing to economic growth. welcome to you, david. when you look at the number combined with a component of the consumer confidence index which shows that there is pent-up demand that this has to be very encouraging. >> housing is clearly on a recovery. six months ago, we still had

doubts. we have seen home prices move up very nicely since then. we have also seen a lot of major statistics. tracy: the pending home sales yesterday was incredibly disappointing. is that due to anything other than the fact that this is late fall, winter and it is a seasonally slow time for the buying market? >> we have had a lot of grunting and groaning and washington over fiscal close contact greases, spending cuts. you have to give a few people pause. i think that will make it a little bit choppy. my senses, looking back a year from now, we will have seen a year of solid gains in housing and everything going in the right direction. tracy: what do you make of home prices rising because of pending foreclosures? >> we hear two things.

there are no houses to buy, inventory is short. clearly, one of the stores has to be a little bit wrong. housing has picked up a great deal. there are undoubtedly tough spots where inventory is a little bit short. phoenix, which four or five years ago a look like you could never buy another house in phoenix, prices are up 22% over the last 12 months. there are some local problems. tracy: how would you characterize the health of the mortgage market right now? >> the market, unfortunately, we may difficult. the banks were very good. as soon as the horse was out of the barn, they locked the barn and threw away the key. getting them to ease up on

credit, they should not go crazy like they did. it does make it very difficult and, especially, for people who have current mortgages underwater. that kind of thing, it can take a long time to straighten out. tracy: year over year, home prices rising 5.5%. i am curious if the housing market is benefiting from somewhat of a self fulfilled prophecy. will people want to brush and before prices, perhaps, really start taking off next year? what is your forecast? >> when we looked at the numbers, we sort of scratch ahead and said, is this for real. there are other spots, new york and the northeast. tracy: new york was the only

city that had a decline in prices. the gin is heavily dependent on financial services. financial services, like everything else, had difficult times in the recession. the recovery is slow. wall street has fewer jobs now than it did five or six years ago. all of that is a drag. on top of that, financial services, a lot of compensation and bonuses. people worried about their bonuses. tracy: thank you so much, david blitzer. have a nice afternoon. ashley: the recovery is for real. that is good news. amazon has holiday result. we will have a preview of that next. tracy: let's talk interest rates. they are historically low. this is the ten year treasury just below 2%. they are selling bonds as they are selling equities today. that is for sure.

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♪ the 2013 c-class coupe. ♪ starting at $37,800. ♪ ♪ >> im adam shapiro with new fox business brief. shares of ford are going down. the second largest u.s. automaker topped expectations. thanks to strengthen its north american operations.

it looks like there is still a future for the twinkie. bankrupt hostess brand is nearing a deal to sell the iconic brand to global management for more than $400. the federal reserve started its latest policy meeting. allowing consumers to borrow cheap interest rates and the unemployment rate dips to under 6.5%. they expect that to take place sometime around 2015. that is the latest on the fox business network. giving you the power to prosper. ♪

lori: online advertisers are facing increased pressure these days. benefield joins us now with more on this story. dennis: i have a digital mystery for you guys.

how can they make profits download illegally movies and tv shows free of charge. the answer is the fire it cites operate on the same sites. they send out to them. they are pinko illegal sites to run them. now comes a new weapon against this complicity. shame. they have begun compiling a monthly list naming the biggest and worst offenders. you see six of the ten top offenders right here. the shocker is the ad networks include google, yahoo! and google itself help fund this study. they zap out somebody millions of ads that spotting a pirate is all but impossible.

movie and tv studios point out that the ad networks are pretty good at making sure that the legitimate ads do not run on porn sites. this is a sharp contrast to industry measures. we will see if this nice guy approach works. lori: it works for you, dennis. tracy: these illegal sites, it is all about eyeballs. dennis: the music business, you cannot block the internet. you have to come up with itunes and sell through it. start giving us a cut at your revenue. embrace the enemy. ashley: thank you, dennis.

time for stocks now as we do every 15 minutes. some internet stocks. nicole: internet, music. let's take a look at pandora. down nearly 3% today. pandora shares are getting a downgrade from web bush. lack of near-term compatibility. there is also concerned that apple could launch their own streaming capabilities. not the first time we have heard this. probably not the last. pandora up publicly 40%. obviously, holiday sales, that will be key for the online retailer as well as profitability. amazon down 2.8% right now. back to you. ashley: thank you very much,

nicole. tracy: immigration reform and judge andrew napolitano. that is next. ashley: first, a look at today's winners and losers. we will be right back. ♪

lori: u.s. authorities are pushing for a settlement of interest rate rigging charges that may result in a british bank pleading guilty to criminal charges and fines. will that marked the end of this massive probe? joining us now is elizabeth macdonald. >> the bank may settle this with $790 million in fines. so long as it's union and asia

does plead guilty. what we are hearing is a global multi- bank deal to finish all of the libor rate rigging charges. that is what we are hearing from our bank sources. it is saying essentially that the discussions are there and with various authorities are ongoing and that they continue to cooperate fully. what would happen with world bank of scotland, the only third bank, more than a dozen banks around the world face these probes. not just for libor, but for your rate rigging. the name of the game is a big push to get a settlement by the end of the year. what i am hearing is, the banks

fear the civil lawsuit which may not be in the settlement. they fear more civil lawsuits and government finds. back to you. ashley: that is right. lori: thank you. ashley: president obama is in nevada unveiling his plan to form immigration. it could make it easier for 11 million illegal immigrants to become citizens. let's bring in senior judicial analyst judge andrew napolitano. thank you so much for being here. it is a hot potato topic. >> it is. tracy: does the president have the authority to just essentially grant this amnesty to these illegal immigrants? >> well, he does and he does not. though congress has all legislative authority and congress should write the laws. the congress has written laws that limit the number of people that can come in based on where

they are born. that has been a ball for 125 years. the numbers change, but that limitations are there. congress has also given president not necessarily this one, if for example, a president were to say, if you are 30 or under, if you came here as a child, if you did not break the law, if you graduated from high school, i will not support you so you might as well stay. is that him changing the law? when congress does nothing about this, congress is acquiescing in that president changing the law the legal ramifications are and enormous expense because people

will still try to come over the border. the united states becoming like east germany surrounded by walls. that probably will not happen. the political ramifications are people want to come here, their relatives are already here and people who do not like the ideas of walls around their states will vote like democrats. we have walls in arizona and in new mexico, but when i was interviewing the secretary of homeland security, i said, mr. secretary, which is the more dangerous border? he said, not even close. he said the north. canadians look like americans. lori: dangerous in terms of not recognizing only those coming through. >> correct. ashley: you say going back to ronald reagan, anyone can come and go. >> it was enacted by the

congress. congress enacted an president reagan signed a law that let anyone here at the time be lawful residence. not a citizen, a local resident. we often change laws when we find out they are not working. ashley: well put. judge, thank you so much. lori: liz claman if you're not to guide us to the last hour of trading. she has the chairman of game go investors. find out where super mario is putting his money to work in 2013. stacy smith explains why x-uppercase-letter is ranting of this year. can't undo "the closing bell" is next. ♪

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